Is Social Security a good program, or does it rob people of their freedom to control their own retirement?

Answer 1

Social Security has kept millions of people out of poverty in their old age. It has acted as a safety net. It was never intended to be be the sole source of a person's income in retirement. Since the late 1970's when people were first allowed to invest in IRA accounts, new ways to save for retirement on a tax deferred basis have constantly be made available by the government. Plus we now have Roth IRA accounts where the income in them grows tax free. We need Social Security now more than ever because so few employers have pension plans that give their workers guaranteed monthly benefits.

Social Security has worked well and the trust fund is solvent on paper at least until 2042 and maybe for much longer if the economy does well. However, there is a problem: Congress has been borrowing and spending all the money in the Social Security trust fund as fast as it comes in and congress has no plan in place to pay it back when it is needed to help pay for the retirement of the baby boom generation. This borrowing has masked the true size of the Federal Budget deficit and has made it easier for President Bush to give tax cuts to the rich. This year Congress will borrow and spend over 180 billion dollars from the Social Security trust fund, every penny of which came from FICA taxes on the wages of workers and their employers.

Answer 2

Before this system there was no catch net. The Federal government did not care. Private companies used pensions for retirement and there was not 401k's IRAs etc. Unfortunately with a lot of these companies, Airlines, Auto and Steel industries these pensions have outright failed or never paid what was promised. SS used with other retirement options is a great thing. Remember just a generation ago most people did not save for retirement period. Start saving now.

Answer 3

Social Security is a good program in theory. But, it's moved away from a social safety net to a program whose participants feel like they are entitled to it. The ones that say it robs peple of their freedom to control their own retirement are the ones who a) feel like they are entitled to it and b) are the ones too stupid to realize that you don't RETIRE on social security...you simply EXIST and barely exist at that. So in a sense if they are relying 100% on social security then they ARE controlling their retirement. They are making sure they retire at below poverty level. I say good for them!!!

Answer 4

Conservative Republicans and Libertarians would say it robs people of their freedom to control their own retirement.
They favor individual freedom over government control.
Social Security was started by a popular Democratic president named Franklin Roosevelt after a major stock market crash.

Answer 5

Social Security is one of the best programs there is. Left to our own devices we would destroy ourselves instead of building for a good, safe, secure, future.

We run from apartment to apartment and buy car after car, but cry if we get a $100 ticket. All because our natural tendency is to spend, spend, and spend some more. All those that think that SSA is getting in the way of their saving for the future, is the ones that would not save if they could. All those who save and build even with SSA payments coming out of our pay checks, know that if we fail, there is still SOCIAL SECURITY.

Answer 6

teddy Roosevelt formed social security he said social security was for Americans to use for a retirement plan . but now they say it,s not your money,it belongs to the government.now they want to tell when you can retire.would you hire a 60yr.old person with problems walking.

Answer 7

it isn't "antagonistic"-Social protection is amazingly Supplemental-you're loose to have an IRA or different form retirement mark downs-over that you've finished administration. SSI grow to be created in tremendous area to grow old individuals out of poverty and rancid welfare. It would not make everybody wealthy yet ought to help you get out of severe poverty. the most ideas-blowing thanks to plot for retirement is to apply both your SSI alongside part withdrawals out of your inner most retirement account. i'm style of guessing people were chuffed they did not have all their income retirement charges those days :) monetary professionals, planners and tremendous corporations do not have your best pursuits in ideas as evidenced via the present monetary meltdown. and the majority do have the awareness to go by skill of complicated/hidden prices etc.

Answer 8

For some, it is a great program.
It should be viewed as a safety net for those that can't cope.....not for those that choose not to utilize their freedom in a moral, ethical, legal pursuit.